Arby's owner Triarc posts 1st-quarter loss
LOS ANGELES, May 9 (Reuters) - Triarc Cos Inc (TRY.N: Quote, Profile, Research), the parent company of sandwich chain operator Arby's, reported a first-quarter loss on Friday as it booked investment losses of $65.9 million.
Triarc, which is controlled by billionaire investor Nelson Peltz and has struck a deal to buy No. 3 hamburger chain Wendy's International Inc (WEN.N: Quote, Profile, Research), reported a net loss of $67.5 million, or 73 cents per share.
In the year-earlier quarter, the company reported net income of $7.1 million, or 8 cents per share for Class B common stock and 7 cents per share for Class A common stock. (Reporting by Lisa Baertlein; editing by John Wallace)
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